Updated Sep 15, 2026
Retail Mixed-Use Property At 780 Lexington Avenue Sold For $28 Million With Lee & Associates
780 Lexington Avenue
$28,000,000
$1,723/SF
Building Size
16,244 SF
Asset Type
Development Site
Closing
Aug 27, 2026
About this deal
AI
The property located at 780 Lexington Avenue, situated in the Upper East Side market, has been sold for a price of $28,000,000. This retail/mixed-use asset encompasses a total square footage of 16,244, corresponding to a price per square foot of $1,723. The property was sold as-is with all tenants in place, and the buyer intends to redevelop the retail space while holding it as long-term covered land.
Summary of transaction details:
- Property Type: Retail/Mixed-Use
- Transaction Amount: $28,000,000
- Address: 780 Lexington Avenue
- Market: Upper East Side
- Square Footage: 16,244
- Price per Square Foot: $1,723
- Brokers: Chris Varjan, George Steffani, Peter Braus & James Wacht - Lee & Associates
Lee & Associates is currently engaged with land deals around the city, totaling approximately 500,000 BSF. Interested parties may reach out to Chris Varjan at [email protected] for inquiries related to buying or selling land or similar assets.
On the Map
$28,000,000
$1,723/SF
Development Site
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.57%
Cash-on-Cash
-0.16%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93